AUTOMOTIVE

«Leaner, faster and even more desirable»

Porsche AG is accelerating the further development of its product strategy, streamlining its management structure and reducing costs in all areas

The new CEO, Dr Michael Leiters, is pushing the pace: "Since I took office, our management team has systematically analysed the situation and begun a series of initial targeted measures. These include the consistent application of our Value over Volume principle, especially in the difficult market environment of China; and the quality-oriented ramp-up of production of the all-electric Cayenne. We will streamline our management structure, reduce hierarchies and cut back on bureaucracy. We have also already begun to focus more strongly on our core business." At the company’s annual press conference in Stuttgart, Michael Leiters emphasised: "We are using the current challenges as an opportunity to act even more decisively. We will comprehensively reposition Porsche, make the company leaner, faster and the products even more desirable."

Leiters clearly expressed his own expectations of the company: "The name Dr. Ing. h.c. F. Porsche stands for the technical excellence of a sports car manufacturer. We stand for uncompromisingly good sports cars that you want to drive yourself, that are fun, that convey performance and passion. And all this regardless of the type of powertrain." Seventy days after taking office in January, Leiters outlined the first concrete cornerstones of his Strategy 2035: "We are considering the expansion of our product portfolio in order to grow in higher-margin segments. In doing so, we are looking at models and derivatives both above our current two-door sports cars and above the Cayenne." With a view to the capital market, he added: "With Strategy 2035, we want to lay the foundations for sustainably strong cash flow, strong results and margins that are appropriate for Porsche."

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